Multiple Choice
Suppose the upward sloping labor supply curve shifts leftward in a labor market with a single employer (monopsony) . What happens to the equilibrium wage and level of employment in the market?
A) Wage and level of employment increase.
B) Wage increases and level of employment declines.
C) Wage decreases and level of employment increases.
D) Wage and level of employment decline.
Correct Answer:
Verified
Correct Answer:
Verified
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